The hotel I used to work, both keys would still work, until you swiped the new key, I guess like someone else said, it is a rolling code, until they new key is swiped, the old key would still work, however the lock keeps tracks of date, so whenever a new key is swiped, the lock knows when the new check out date is. Many times I had to go up to guests rooms to block their keys, by swiping a new key.
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